Overview
- Leaders announced a 14-point memorandum of understanding and set an official signing in Geneva on Friday, June 19, to formalise an immediate ceasefire and pre-implementation meetings.
- The memorandum calls for an immediate end to US naval blockade and the phased reopening of the Strait of Hormuz to restore oil shipping after mine clearance and coordination.
- The agreement opens a roughly 60-day period for technical negotiations on Iran’s nuclear programme and sanctions, but the full text and verification details remain unpublished and unresolved.
- Reports say the deal would include release of billions in frozen Iranian assets (figures around $24–$25 billion have been cited) though those mechanics are not yet confirmed by all parties.
- Implementation risks are high because Israel was not part of talks and continues military action, hardline protests in Iran oppose concessions, and leaders must contain spoilers for the deal to hold.